Adient (NYSE:ADNT) Shares Gap Down Following Analyst Downgrade

Adient plc (NYSE:ADNT) gapped down before the market opened on Tuesday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $14.74, but opened at $13.85. Adient shares last traded at $13.80, with a volume of 201,100 shares.

A number of other research analysts also recently weighed in on the company. Wells Fargo & Company downgraded Adient from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $27.00 to $20.00 in a report on Monday, December 16th. Morgan Stanley dropped their target price on Adient from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Monday. Bank of America lowered shares of Adient from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $24.00 to $18.00 in a research report on Tuesday. UBS Group boosted their price objective on shares of Adient from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of Adient from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.88.

Institutional Trading of Adient

Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in shares of Adient during the 4th quarter worth $25,000. Versant Capital Management Inc boosted its holdings in Adient by 10,316.7% in the fourth quarter. Versant Capital Management Inc now owns 1,875 shares of the company’s stock worth $32,000 after purchasing an additional 1,857 shares in the last quarter. R Squared Ltd acquired a new position in Adient during the fourth quarter worth $32,000. IFP Advisors Inc raised its holdings in Adient by 6,924.2% during the fourth quarter. IFP Advisors Inc now owns 2,318 shares of the company’s stock valued at $40,000 after buying an additional 2,285 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Adient by 583.8% in the third quarter. US Bancorp DE now owns 1,860 shares of the company’s stock worth $42,000 after buying an additional 1,588 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Adient Stock Performance

The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.86 and a current ratio of 1.08. The company has a market cap of $1.25 billion, a P/E ratio of 747.25, a P/E/G ratio of 0.34 and a beta of 2.27. The firm has a 50 day moving average price of $17.02 and a 200-day moving average price of $19.42.

Adient (NYSE:ADNT) last announced its earnings results on Tuesday, January 28th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.05). Adient had a positive return on equity of 6.94% and a negative net margin of 0.01%. During the same period in the prior year, the firm posted $0.31 EPS. On average, research analysts predict that Adient plc will post 1.76 EPS for the current year.

Adient Company Profile

Adient plc engages in the design, development, manufacture, and market of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's automotive seating solutions include complete seating systems, frames, mechanisms, foams, head restraints, armrests, and trim covers.